The Singapore Tourism Board (STB) and PhonePe have signed a two-year MoU to promote the Unified Payments Interface (UPI) for Indians travelling in Singapore.

Banking & Finance

The Singapore Tourism Board (STB) and PhonePe have signed a two-year MoU to promote the Unified Payments Interface (UPI) for Indians travelling in Singapore. This collaboration aims to build upon the existing Unified Payments Interface (UPI) linkage between India and Singapore, which allows customers to instantly make cross-border transactions between the two countries directly from their existing Indian bank accounts. As part of the partnership, STB and PhonePe will invest in joint marketing efforts across India and Singapore to promote UPI experiences across key tourism hotspots.


      PhonePe crossed 230 million daily transactions with an annualised Total Payment Value (TPV) that was more than $1.5 trillion.

      Under the collaboration, Indian citizens visiting or working in the UAE can use the PhonePe app for seamless transactions.

     

 

     


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